Columbia Banking System (NASDAQ:COLB) Price Target Increased to $29.00 by Analysts at Barclays

Columbia Banking System (NASDAQ:COLB) had its price objective boosted by Barclays from $25.00 to $29.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price objective points to a potential upside of 4.28% from the company’s previous close.

A number of other research firms have also recently weighed in on COLB. JPMorgan Chase & Co. dropped their target price on shares of Columbia Banking System from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Wells Fargo & Company increased their target price on shares of Columbia Banking System from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday. Wedbush boosted their price target on shares of Columbia Banking System from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Friday. Stephens raised their price objective on shares of Columbia Banking System from $22.00 to $26.00 and gave the stock an “equal weight” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada boosted their target price on shares of Columbia Banking System from $29.00 to $31.00 and gave the company a “sector perform” rating in a report on Friday. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $26.96.

Columbia Banking System Price Performance

Shares of NASDAQ COLB traded down $0.46 during midday trading on Friday, reaching $27.81. The company’s stock had a trading volume of 919,365 shares, compared to its average volume of 2,302,754. The stock has a market capitalization of $5.82 billion, a P/E ratio of 11.95 and a beta of 0.64. The firm has a 50 day moving average price of $25.41 and a 200-day moving average price of $22.15. Columbia Banking System has a 12-month low of $17.08 and a 12-month high of $28.53.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.07. The business had revenue of $765.06 million for the quarter, compared to analysts’ expectations of $478.80 million. Columbia Banking System had a return on equity of 10.89% and a net margin of 15.94%. During the same quarter in the previous year, the firm earned $0.79 earnings per share. On average, equities analysts predict that Columbia Banking System will post 2.55 EPS for the current year.

Institutional Trading of Columbia Banking System

Hedge funds have recently made changes to their positions in the stock. Picton Mahoney Asset Management purchased a new position in shares of Columbia Banking System in the second quarter worth about $33,000. Abich Financial Wealth Management LLC lifted its position in Columbia Banking System by 85.1% in the first quarter. Abich Financial Wealth Management LLC now owns 2,219 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 1,020 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Columbia Banking System by 144.0% during the second quarter. GAMMA Investing LLC now owns 2,350 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 1,387 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Columbia Banking System by 111.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,618 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 1,380 shares during the last quarter. Finally, Hexagon Capital Partners LLC increased its stake in shares of Columbia Banking System by 137,166.7% in the second quarter. Hexagon Capital Partners LLC now owns 4,118 shares of the financial services provider’s stock worth $82,000 after buying an additional 4,115 shares during the period. 92.53% of the stock is owned by institutional investors.

About Columbia Banking System

Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.